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After battle, hedge fund wins Tribune Publishing newspaper chain

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AFP

Washington (AFP) – A hedge fund won approval Friday after a bitter campaign to acquire Tribune Publishing and create the second-largest US newspaper chain, raising fears of deeper newsroom cuts in the troubled sector. Tribune shareholders approved the deal to sell the group to Alden Global Capital, rejecting pleas from unions and media watchdogs who have blasted the investment group for drastic newsroom job cuts it has made at its other media properties. The transaction assigned a $633 million value to the group, which includes the New York Daily News,┬áBaltimore Sun, Orlando Sentinel, South Fl…

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